Corruption eats up 2% of world GDP – IMF

The managing Director of the International monetary Fund (IMF), Christine Lagarde, called for international cooperation in the fight against corruption, which annually costs the global economy around 1.5 trillion dollars.

“Bribery costs the global economy every year to more than $ 1.5 trillion, or 2% of global GDP. Corruption is corrosion, which does not recognize borders. But think about it: new technologies are changing the financial world and the rules of the game,” said Lagarde, speaking to the eighth readings, Henry Kissinger, held in the library of Congress.

According to the head of the IMF, new ideas, including a cryptocurrency that can be used by cybercriminals to direct financial flows to the illegal activities around the world.

“It’s not a problem of one nation or one government. This can be solved only through international cooperation,” – said Lagarde.

Germany’s GDP fell for the first time in three and a half years

We will remind, earlier the head of the IMF told about the negative impact of trade wars.

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